Celestia Foundation previously announced on September 23rd that it successfully raised $100 million in funding with Bain Capital Crypto as the lead investor, along with participation from Syncracy Capital, 1kx, Robot Ventures, Placeholder, and other institutions.
However, the Celestia Foundation seems to have not fully disclosed the specific details of the financing. According to overseas KOL Sisyphus, the transaction was conducted through over-the-counter (OTC) sales of TIA tokens and was actually completed several months ago. These sold tokens are expected to be unlocked starting in October.
《Wu Blockchain》 also reported today that the price of this TIA OTC token sale was $3, with one-third of the tokens being unlocked on October 31st and the remaining portion being linearly unlocked over the next year, which is consistent with Sisyphus’s statement.
This transaction has sparked widespread criticism from the community. Many people believe that Celestia’s announcement not only failed to disclose the valuation of these tokens and the token release plan, but also released the fundraising press release only a month before the token unlocking, leading the public to believe that the fundraising happened recently (institutions may have impulsively purchased when TIA was priced at tens of dollars, rather than having confidence in the current price range), thereby overlooking the potential selling risk and causing FOMO buying.